The Real Deal New York

740 Park duplex returns to market for $27.5M

Israel Englander set a short-lived record with his $71.3M co-op purchase in the building

March 20, 2015 08:04AM

740 Park Avenue and Kyle Blackmon

740 Park Avenue and Kyle Blackmon

A 14-room duplex in the prestigious 740 Park Avenue relisted for $27.5 million, following the record-setting sale of a $71.3 million co-op in the building in August.

The co-op, which spans the building’s fourth and fifth floors, was taken off the market about a year ago after failing to sell at $29.5 million, but listing broker Kyle Blackmon of Compass told the Wall Street Journal he believes the momentum is favorable in the wake of August’s attention-grabbing sale in the building.

Hedge funder Israel Englander was the buyer of the $71.3 million, 18-room duplex. However, his record has since been eclipsed by the sale of an $80 million co-op in 834 Fifth Avenue by Jets owner Woody Johnson.

As told in the book “740 Park: The Story of the World’s Richest Apartment Building” by Michael Gross, the $27.5 million apartment has been owned by investor Peter Huang since the 1970s, and is one of the only units in the building to retain its original layout, including plaster moldings and a spiral staircase with a brass balustrade. The apartment also features wood-burning fireplaces in its 37-foot-long living room. [WSJ] — Tess Hofmann

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